SEOUL, Sept. 4 (Korea Bizwire) – What do insurance planners, delivery workers, golf caddies, home-school teachers, and designated drivers have in common in Korea? The answer is that they are subscribed as “individual contributors” to the national pension plan. This may change, however, says National Pension Service (NPS) and Ministry of Health and Welfare (MOHW). The [...]
SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s state pension fund is on course to be depleted in 2057 under the existing system, studies showed Friday, with the pension operator suggesting two major options to keep it running. According to the latest studies conducted by the National Pension Service (NPS), also the country’s top institutional [...]
SEOUL, Aug. 11 (Korea Bizwire) — With an increasing number of South Koreans beginning to believe the argument that the national pension fund will be depleted around 2056 or 2057, which is three to four years earlier than previous estimates, worry over not being able to receive a proper pension is spreading among the general [...]
SEOUL, Aug. 9 (Korea Bizwire) — With worry by the public over the depletion of the national pension fund becoming more widespread, many critics are saying that the monthly subsidies provided to retired senior citizens may become “mere pocket money,” unable to cover the most basic daily expenses in the future. According to the Ministry [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s national pension could run out of money by 2056 or 2057 if current financial conditions continue, three to four years earlier than previously projected by the government, official sources said Thursday. The government conducts reviews on the financial soundness of the National Pension Service (NPS) every five [...]
SEOUL, May 2 (Korea Bizwire) — The National Pension Service (NPS), a key player in the domestic stock market, included two firms on its blacklist for paying low dividends to shareholders. According to the NPS, a special committee held a meeting on Wednesday last week and voted to reveal that Namyang Dairy Products and Hyundai [...]
SEOUL, Mar. 27 (Korea Bizwire) — South Korea’s state pension fund operator will push for actively exercising its rights as major shareholders of invested firms to promote the interests of subscribers in the mid and long term, a report showed Tuesday. In July last year, the welfare ministry and the National Pension Service (NPS) commissioned [...]
SEOUL, Dec. 27 (Korea Bizwire) – The National Pension Service is considering a workplace pension scheme for day laborers who work over eight days per month. According to the public pension fund on Monday, plans are being considered to ensure equal pension coverage in the workplace for day laborers as regular workers. Under the new [...]
SEOUL, Jul. 23 (Korea Bizwire) — The size of assets under management by South Korea’s state pension fund surpassed the 600 trillion won (US$536.2 billion) mark for the first time ever, the government said Sunday. According to the Ministry of Health and Welfare, the total value of funds controlled by the National Pension Service (NPS) [...]
SEOUL, June 28 (Korea Bizwire) – The percentage of elderly South Koreans receiving public or private pensions stood at 30 percent in 2016, a government report showed Wednesday. The report by the Board of Audit and Inspection (BAI), which analyzed data by the NPS and private insurance companies, showed many people remaining unprotected by the [...]